Severn Trent to demerge U.K. waste management unit

SimonKennedy

LONDON (MarketWatch) -- U.K. water utility Severn Trent
SVT, +0.04%
said Tuesday it plans to demerge its U.K. waste management business, Biffa. The company said it is also considering the sale of Biffa Belgium. Severn Trent said following the demerger it would remain a FTSE 100 constituent, while Biffa would likely be part of the FTSE 250. Separately the company said its performance over the last year has been consistent with its prior guidance, with pretax profit for the year expected to rise by 30% to 35%, mainly due to a 15.2% rise in prices.

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